Wrexham director Shaun Harvey has confirmed the club walked away from a blockbuster £19 million January move after deciding it did not offer value within EFL spending rules.
The Red Dragons were heavily linked with a Championship-record bid for teenage forward Sidiki Cherif as they looked to strengthen their promotion push. However, the 19-year-old ultimately joined Fenerbahce in a deal worth around £21.7m from Angers.
Despite the financial backing of Hollywood co-owners Ryan Reynolds and Rob McElhenney, along with support from the Allyn family and Apollo Sports Capital, Harvey made it clear that Wrexham are still restricted by profit and sustainability (PSR) regulations.
Speaking on the Fearless in Devotion podcast, the former EFL chief executive explained that sitting sixth in the table meant the club had scope to spend — but only within strict financial limits.
“What being sixth in the league did was give us the potential to spend every single penny possible under PSR regulations,” Harvey said.
“He was one we looked at who was right at the top end of what we had available. When I say available, I mean under PSR limits — you are restricted. It doesn’t matter how much money you have, you can only lose so much over a three-year period.
“We had the money to spend, but the final analysis was that it didn’t represent value in this window.”
More measured winter business
Instead of pushing the boat out, Wrexham opted for a more cautious approach, spending roughly £5m during the January window.
Around half of that fee went to Barnsley for forward Davis Keillor-Dunn, while Bristol City defender Zak Vyner arrived for approximately £1.5m. The club then completed a £1m move for Sheffield Wednesday striker Bailey Cadamarteri.
Harvey stressed that January was never expected to be transformative, particularly after 13 arrivals in the summer.
“January is never going to be a big transfer window,” he said. “We look for opportunities to strengthen without upsetting the balance.”
He also praised manager Phil Parkinson for maintaining harmony within the squad — a key factor in the club’s rise.
While Wrexham remain ambitious in their pursuit of Premier League football, the decision to abandon the Cherif deal underlines a clear strategy: ambition, yes — but not at any cost.
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